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Cox Automotive Market Overview – April 2018Back

Retail

  • The average used car sold price was up 2.97% on 2017 figures, standing at £12,903, despite vehicles selling at a slower pace. The average used retail price continues to rise steadily, in line with the rest of 2018.
  • Days in stock increased by an overall average of four days in April 2018 compared to last year. Electric vehicles show a significant fall in days in stock compared to other fuel types (41 in days in 2018 v 48 days in 2017).
  • Petrol and hybrid vehicles are selling slower than in 2017.
  • Overall, used car sales are expected to improve as consumers are confused by the new tax affecting new vehicles.

Wholesale

  • The average auction wholesale prices increase 19.32% in April year on year and, out of seasonality, 1.5% since March.
  • Diesel and petrol prices remained overall stable, with slight increases in the £30 -£40k range and in the £0 -£20K respectively.
  • Overall, volumes of vehicles sold through physical and online lanes were on par with the previous month.

Dealers

  • 41% of dealers surveyed by Cox Automotive reported margin pressures
  • The economic outlook remains similar with only 9% anticipating improvement and 30% expecting a further decline
  • Modix data shows that car buyers are looking closer to home for their next car than dealers may perceive
  • Cash flow and digital integration remain priorities for dealers in the year ahead

 

Posted by Sue Robinson on 25/05/2018